Westpac - News, Features, and Slideshows

News

• Investing in compliance is an investment in innovation

  The Westpac crisis - and echoes of non-compliance in financial institutions prior - is rooted in a legacy problem.

• Westpac and Microsoft team up to ‘catapult’ digital banking

  Westpac has taken the wrappers off its data driven experience platform (DDEP), a Microsoft Azure-based data hub that draws on data sources from across Westpac Group to provide real-time, personalised insight to its customers.

• Westpac prepares to launch ‘banking as a service’ platform

  Westpac plans to launch a standalone cloud-based digital ‘banking as a service’ platform that will allow third parties, such as Westpac’s institutional clients and fintechs, to offer the bank’s products to their customers.

• More security needed for real time banking system

  The PayID real-time banking system owned by Australian financial institutions through the New Payments Platform (NPP) has been the victim of hacker misuse twice this year, highlighting just how vulnerable the nation’s real time payments infrastructure is.

• Westpac confirms PayID look-up 'mis-use'

  ​Westpac bank has confirmed that it “had detected mis-use” of the New Payments Platform’s PayID feature, following a report that the details of thousands of customers were looked up by a ‘fraudster’.

• NAB enables Apple Pay

  National Australia Bank (NAB) has made Apple Pay available to personal and business customers with eligible NAB Visa debit or credit cards this morning.

• Westpac rolling out Red chatbot to all customers

  Westpac is making its new chatbot available to all customers tonight, following a successful roll out to 2.8 million people in March.

• Westpac CEO says tech investment has slashed outages

  Westpac experienced zero Severity 1 IT incidents in the second half of FY18 and the first half of FY19, which group CEO Brian Hartzer says reflects the bank’s technology investment program​.

• Westpac CIO Wood makes move to Allianz

  ​Allianz Australia has appointed Mike Wood as its new chief information officer.

• CBA capitulates, will support Apple Pay next year

  The ​Commonwealth Bank of Australia (CBA) will offer customers Apple Pay in January, it announced today.

• Former Tesco Bank CEO: Retailers, not fintechs, future of banking

  ​Benny Higgins, former chief executive of Tesco Bank, the finance arm of one of the world’s largest retailers, is dismayed by the response of Australian bank executives to the Banking Royal Commission.

• Cloud helps Westpac reduce app rollout from weeks to hours

  Westpac spent FY18 progressively migrating apps to its new private cloud environment, which the bank said was helping reduce app installation from weeks to hours.

• NAB and Westpac back smart receipt start-up Slyp

  ​The corporate venture capital arms of National Australia Bank and Westpac have led a $2 million seed funding round into Sydney ‘smart receipt’ start-up Slyp.

• NAB, Westpac and CBA’s instant payments app Beem It appoints CEO

  Beem It – the venture behind an app which allows people to make instant, peer-to-peer payments without the need for a BSB number or account details – has appointed its first chief executive officer.

• Westpac proof of concept wins tech buzzword bingo

  ​Westpac has launched a proof of concept combining four of the most talked about technologies of the day: data analytics, artificial intelligence, Internet of Things and blockchain.